Shanghai Fudan Microelectronics Group Co Stock Forecast

Shanghai Fudan Microelectronics Group Co stock price ended at HK$12.14 on Friday, after gaining 2.02%.
(Updated on May 17, 2024)

1385.HK Signals & Forecast

Mostly positive signals in the chart today. The Shanghai Fudan Microelectronics Group Co stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at HK$11.69 and HK$10.55. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 29.84%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Shanghai Fudan Microelectronics Group Co stock

Shanghai Fudan Microelectronics Group Co finds support from accumulated volume at HK$11.62 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved HK$0.380 between high and low, or 3.20%. For the last week, the stock has had daily average volatility of 4.00%.

The Shanghai Fudan Microelectronics Group Co stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: HK$11.63 (-4.18%) (This stock has high daily movements and this gives high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (1385.HK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Shanghai Fudan Microelectronics Group Company Limited to open at HK$12.09, and during the day (based on 14 day Average True Range), to move between HK$11.60 and HK$12.68, which gives a possible trading interval of +/-HK$0.544 (+/-4.48%) up or down from last closing price. If Shanghai Fudan Microelectronics Group Company Limited takes out the full calculated possible swing range there will be an estimated 8.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at HK$11.62 (4.28%) than the resistance at HK$12.96 (6.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shanghai Fudan Microelectronics Group Company Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 4.192 Buy Candidate Unchanged

Predicted Opening Price for Shanghai Fudan Microelectronics Group Company Limited of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.